Real Estate News

Moscow Searches for Cash to Fund New Metro Stations on Red Line

  • February 16, 2015
The Moscow metro's Red Line could get an extra two stations by 2017, a deputy mayor said, if City Hall can raise the money to fund the expansions amid Russia's looming recession.

Finland's Stockmann to Shutter More Stores in Russia as Recession Bites

  • February 16, 2015
Finnish retail chain Stockmann will shut three of its five Moscow department stores, following last year's closure of 16 of the company's fashion outlets amid Russian currency devaluation and a sharp economic downturn.

State Building Contracts Inflated By Up to 40% — Audit Chamber

  • February 09, 2015
Regulations for planning state construction projects push costs up by as much as 40 percent, Russia's Audit Chamber said in a statement Monday.

Vacancies Multiply in Moscow's Upmarket Retail Districts

  • February 09, 2015
Moscow's swankiest streets are blooming with cherry red "For Rent" signs as retailers flee their flagship stores for cheaper rents elsewhere amid Russia's growing economic crisis.

Russians With Foreign Currency Mortgages Ask Putin to Help Them Pay

  • February 09, 2015
Russians with foreign-currency mortgages have written an open letter to President Vladimir Putin seeking help with repayments that have soared because of the ruble's plunge, saying they were misled by banks.

Medvedev Seeks Government Action on Rising Cost of Mortgages

  • February 02, 2015
Prime Minister Dmitry Medvedev on Monday told the government to ensure that mortgage lending isn't "reduced to nothing" as crushing loan payments squeeze Russians amid sky-high interest rates and rising inflation, news agency Interfax reported on Monday.

Casino Gets Liquidated by Russian Gambling Reform

  • February 02, 2015
New Russian legislation on gambling zones will force a major casino to close only five years after it opened, incurring billions of rubles in costs that will have to be reimbursed by Moscow, the Vedomosti newspaper reported.

Russians Stop Buying Finnish Cottages as Ruble's Value Falls

  • February 02, 2015
Russians have practically stopped buying second homes in Finland as the sharp devaluation of the ruble against the euro erodes their buying power, Finnish news broadcaster Yle Uutiset reported on Monday, citing Finnish real estate agencies.

As Tourists Steer Clear, Moscow's Luxury Hotels Fight Stagnation

  • February 02, 2015
Room rates at Moscow's luxury hotels will likely stagnate this year as continuing international tensions between the West and Russia sap demand, according to a report by real estate consultancy Jones Lang LaSalle (JLL)

Moscow's New Offensive Against Street Kiosks to Strike Small Business

  • January 26, 2015
City Hall's new offensive against street kiosks this year will refresh Moscow's image, but strain the city's budget and push the last remaining small-time retail entrepreneurs out of business, kiosk owners said Monday.

As Crisis Hits, Russians Build Vacation Homes

  • January 26, 2015
Of all the possible reactions to a financial crisis, building a vacation home is perhaps one of the most unlikely.

Sochi's Luxury Ski Chalets Enter World's Top 20 for Price Growth

  • January 26, 2015
Russia's resort town of Sochi, host of the 2014 Winter Olympics, has broken into the world's top 20 ski resorts by price growth for high end residences, according to a recent study by real estate agency Knight Frank.

Russian Luxury Apartment Rents Sink as Expats Flee Moscow

  • January 19, 2015
Rental prices for Moscow's most expensive apartments fell 17 percent last year, according to a forthcoming IntermarkSavills report, with analysts blaming multinationals fleeing Russia and a collapsing ruble for the dip in rates.

Gambling Zone in Russia's Far East Aims to Become Next Macau

  • January 19, 2015
A long-awaited gambling oasis designed to tempt wealthy Asian and domestic tourists into Russia's Far East is finally getting off the ground, with $2.2 billion in total anticipated investment, the regional government said in a statement.

More Russians Saving to Buy Apartments as Ruble Slide Continues

  • January 19, 2015
The number of Russians wanting to save for real estate rose by 8 percent to 33 percent in the fourth quarter of last year, a poll found.

Investment in Russian Real Estate to Hit 10-Year Low in 2015

  • January 19, 2015
Investment in Russia's real estate sector is expected to drop 14 percent to $3 billion this year as ruble volatility and toughening investment conditions shrivel developers' enthusiasm, according to a report by real estate consultancy Jones Lang LaSalle (JLL).

Moscow Office Rents to Drop Sharply as Recession Closes In

  • January 12, 2015
Office rent costs in Moscow are likely to nearly halve this year as companies' need to economize amid an oncoming recession combines with market oversupply, analysts said.

Asian Investment Seizes a Tenth of Russia's Commercial Real Estate Market

  • January 12, 2015
Investors from Asia and the Near East sprang from nowhere to make up 10 percent of investments in Russian commercial real estate in 2014, according to a study by real estate consultancy Cushman & Wakefield.

Russian Man to Build Copy of 'The Simpsons' House in Moscow Region

  • January 12, 2015
A die-hard fan of U.S. television show "The Simpsons" has taken things to a new level, with plans to build an exact replica of the animated family's house outside Moscow.

Moscow Real Estate Prices to Rise Sharply Next Year

  • December 22, 2014
Many Moscow developers are planning sharp price rises on real estate as access to financing tightens amid a steadily worsening economic climate, reports said.